Rupee appreciates by 60 paise against US dollar

The Indian rupee rose by 60 paise to 46.28 against the US dollar in early trade on Wednesday following RBI's move to sell dollar to augment supply in the domestic forex market.

At the Interbank Foreign Exchange (forex) market, the Indian currency, which recorded its sharp single day fall of 84 paise on Tuesday to 46.89/90, moved up by 60 paise at 46.28 against the greenback owing to recovery in other Asian bourses and intervention of RBI to inject liquidity into the system.

The Reserve Bank on Tuesday announced additional measures to inject liquidity into the system following collapse of two global financial giants, and said it would continue to sell dollars as the rupee continued to depreciate.